Dell and the University of Texas at Austin’s RGK Center for Philanthropy and Community Service are working together for the 5th consecutive year to help fuel the entrepreneurial spirit of the best and brightest young minds with the 2011 Dell Social Innovation Competition.

The program inspires university students to approach global social problems through entrepreneurship, technology and sustainability and empowers them with unique skills and opportunities to succeed in a globally competitive workforce. The contestants with the best idea and venture plan will be awarded a $50,000 grand prize.

The Dell Social Innovation Competition is open to higher education students across the globe who have a passion for a social issues and a plan to make a difference. All applications must be submitted online by February 14. Last year, there were more than 1,000 entries from teams in 55 countries representing 350 colleges and universities.

New this year is a university partner network comprised of 100 higher education institutions that are leading the way in teaching social entrepreneurship and supporting student entrepreneurs. These organizations are given access to resources to help build their own social entrepreneurship program.

The final event will be held on May 16 at The University of Texas at Austin. The grand prize winners will be announced at a reception following the presentations.

The first, second and third place winners will receive $50,000, $20,000 and $10,000 correspondingly. Each of these cash awards is given to help the contestants turn their ideas into a new business or non-profit organization. The first, second and third place teams also will receive two Dell laptops each and be granted access to the top social entrepreneurship networks and events. Additionally, entrants are eligible to win a $10,000 Dell Technology Award, $10,000 Tomberg Prize in Environmental Sustainability or $10,000 People’s Choice award.